State Bank of India appoints R Sridharan as its new Managing Director (MD) and Group Executive (Associates and Subsidiaries) with effect from December 5th.

Prior to assuming the present post, Sridharan was the Deputy Managing Director of the bank looking after its non-banking subsidiaries. Earlier he was also the MD and CEO of SBI subsidiary, SBI Capital Markets.

Besides, Sridharan has also held a variety of critical and challenging assignments in the bank's overseas division. During his career span he has also been known for serving the Finance Ministry of the India as an advisor.

He is a graduate from Madras University and joined SBI as a probationary officer in 1972.

He takes over the charge form the former MD, V Mahadevan who has been convicted by a special court for obtaining shares and debentures of companies for a price lower than the market rate in 1993. He was the MD of SBI since 1987 and had been appointed by the ministry of finance but was fired immediately after his arrest.